Egyptian tax authority releases new tax regs. for small businesses

Tue, 23 Jan 2024 - 05:11 GMT

The new tax system stated that establishments with a business turnover below LE 250,000 will be subject to an annual tax of LE 1,000

ITIDA Takes Center Stage in Fostering Egypt’s Tech Startups and Nurturing the Entrepreneurship Ecosystem, the CEO Pronounces

Mon, 09 Oct 2023 - 02:19 GMT

On the sidelines of the summit, ElZaher met with a group from the TIEC Innovation Ambassador (TIEC-IA) program. ITIDA’s CEO praised their efforts and stressed the importance of the role they play in realizing ITIDA’s goal of spreading the culture of entrepreneurship and innovation

MSMEDA assisted over 300k MSMEs in past 18 months, MSMEDA CEO

Tue, 29 Aug 2023 - 01:41 GMT

In addition to financial support, MSMEDA offers non-financial support including project registration in suppliers' directories, integration into commercial networks, entrepreneurial training, and the facilitation of business-to-business collaborations

National family development project boosts inclusive economic growth and alleviates poverty

Sat, 08 Jul 2023 - 07:22 GMT

The funding is set to expand opportunities for women-owned micro-projects in various productive sectors.

MSMEDA partners with eAswaaq to develop Egypt’s digital service platform for SMEs

Sun, 18 Jun 2023 - 04:46 GMT

The service platform will incorporate all authorities offering financial and technical assistance to SMEs including banks, non-profit organizations, and government bodies. The platform is set to be officially launched within the next 3 months.

FRA increases the financing limit for micro-sized entities by 10%

Mon, 15 May 2023 - 04:24 GMT

The Financial Regulatory Authority (FRA) increased the maximum financing limit for micro-enterprises by 10 percent to LE 220,000 up from LE 200,000.

10 services provided by SEDA according to Egypt's SMEs Law

Thu, 20 Apr 2023 - 12:26 GMT

Egypt's Law on Small and Medium Enterprises Development specifies the services provided by the Small and Medium Enterprises Development Agency to the projects subject to the provisions of this law.

Value of microfinance in Egypt grows by 7.9% in 2022

Mon, 27 Mar 2023 - 03:13 GMT

Zulfaqar equally highlighted that the client base expanded by 10 percent.

Sovereign Fund of Egypt, Etisalat Egypt launch ‘Erada’ Microfinance

Mon, 16 Jan 2023 - 10:10 GMT

The company enables access to a wide range of financial services to micro and small enterprises.

Parliament provides 4 solutions to problems of investors, SMEs' owners

Mon, 05 Dec 2022 - 11:53 GMT

The Small and Medium Enterprises Committee in the House of Representatives, chaired by Representative Mohamed Kamal Marei, recommended during its meeting Monday to discuss the vision of the Egyptian Federation of Investors’ Associations and Institutions (Investors’ Association) to support the SMEs sector.

Egypt's law allows allocating 30% of lands of industrial, tourist areas to SMEs

Thu, 22 Sep 2022 - 07:16 GMT

Egypt's law allows allocation of vacant lands in industrial and tourist areas for small and medium enterprises.

How Egypt's law encourages integration of SMEs into formal economy

Sat, 17 Sep 2022 - 06:05 GMT

In this regard, the Medium, Small and Micro Enterprise Development Law No. 152 of 2020, included incentives and controls to legalize the status of informal economy projects.

EBRD supports green investments in Egypt's SMEs by $100M

Sun, 11 Sep 2022 - 01:20 GMT

The EBRD elaborated that the loan follows the success of the Green Economy Financing Facility (GEFF) in Egypt, and will support an expansion of green lending in Egypt to under-served regions for investments in climate change mitigation and adaptation technologies and services.

Egypt launches 'Your Road is Safe' initiative targeted at delivery workers

Tue, 23 Aug 2022 - 02:39 GMT

That is within the government's bid to expand the social safety network among irregular workers.

LE40B disbursed to 1.6M MSMEs in Egypt since 2014

Sun, 26 Jun 2022 - 03:33 GMT

Gamea noted that those entities created 2.5 million jobs.

GIZ, FRA cooperate to support growth of SMEs in Egypt

Tue, 24 May 2022 - 02:15 GMT

The GIZ stated, in a press statement, Monday, that it is implementing, in cooperation with the financial supervision, a strategy to improve banking supervision and regulation, in addition to financial stability and comprehensiveness.

Egypt's law drops lawsuits against unofficial businesses once licensed to encourage inclusion in official economy

Wed, 04 May 2022 - 05:12 GMT

As part of Egypt’s endeavors to encourage the integration of unofficial economy projects into the official economy, the law stipulates lawsuits against such businesses are halted once they obtain a temporary license.

Credit Guarantee Company launches program for SMEs financing in Upper Egypt

Thu, 17 Mar 2022 - 02:26 GMT

Named "Daman" (guarantee), the new financing program is planned to be launched first in Qena governorate to support the national economy, said CGC managing director Naglaa Bahr on the sidelines of SMEs conference... Egypt Vision 2030, organized by the Union of Arab Banks in Luxor.

CBE deputy governor: Financial inclusion rates up 110% in last 5 years

Mon, 14 Mar 2022 - 07:14 GMT

Addressing a conference on the future of small and medium-sized enterprises (SMEs), which is organized by the Union of Arab Banks (UAB) in the Upper Egyptian city of Luxor, Loqman said the CBE is seeking to equally offer financial services to the majority of citizens across Egypt.

CBE Governor: SMEs mainstay for economic growth

Sun, 13 Mar 2022 - 05:56 GMT

He made the remarks in a speech delivered on his behalf by CBE Deputy Governor Gamal Negm at a conference organized by the Arab Banks Union.